Seems like the 200-day acting as major support.
Furthermore, the price action corrected from the lower range of the linear regression channel. This increases the likelihood of a mean reversion trade.
Bullish MACD crossover supports the bullish trend direction.
Upside price momentum supports the bullish trend direction.
Furthermore, the price action corrected from the lower range of the linear regression channel. This increases the likelihood of a mean reversion trade.
Bullish MACD crossover supports the bullish trend direction.
Upside price momentum supports the bullish trend direction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.